ValuEngine upgraded shares of Neovasc (NASDAQ:NVCN) (TSE:NVC) from a hold rating to a buy rating in a report published on Saturday.

Separately, Zacks Investment Research upgraded shares of Neovasc from a strong sell rating to a hold rating in a research report on Thursday, May 31st.

NVCN opened at $2.69 on Friday. The stock has a market cap of $56.86 million, a P/E ratio of -0.07 and a beta of 1.02. Neovasc has a twelve month low of $2.00 and a twelve month high of $178.00. The company has a current ratio of 3.41, a quick ratio of 3.38 and a debt-to-equity ratio of -4.96.

Neovasc shares are set to reverse split on the morning of Monday, October 15th. The 1-100 reverse split was announced on Tuesday, September 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, October 12th.

A number of institutional investors and hedge funds have recently bought and sold shares of NVCN. Gagnon Securities LLC raised its stake in Neovasc by 350.7% during the second quarter. Gagnon Securities LLC now owns 19,120,325 shares of the medical equipment provider’s stock worth $818,000 after purchasing an additional 14,878,428 shares during the period. Gagnon Advisors LLC raised its stake in Neovasc by 2,416.2% during the second quarter. Gagnon Advisors LLC now owns 46,032,686 shares of the medical equipment provider’s stock worth $1,970,000 after purchasing an additional 44,203,204 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Neovasc by 837.5% during the second quarter. Renaissance Technologies LLC now owns 53,754,832 shares of the medical equipment provider’s stock worth $2,300,000 after purchasing an additional 48,020,900 shares during the period. Hedge funds and other institutional investors own 20.99% of the company’s stock.

Neovasc Company Profile

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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